Personal Tax

Whether you are employed or self-employed the range of personal tax rates and allowances is enormous. Couple this with the extra burden of National Insurance Contributions means a complex system of rules and regulations face an individual. Today, more and more emphasis is being put on taxpayers’ individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements.

 

Careful planning is essential for an individual with many opportunities arising to ensure that you obtain maximum tax savings. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation. Some of the areas we can assist with are as follows:

 

Charitable giving

 You can get tax relief on gifts to UK charities if you give under Gift Aid or through a Payroll Giving scheme or by making a gift of shares or land. We outline the reliefs available 
    

Child Benefit charge

 

Information regarding the High Income Child Benefit charge which applies to taxpayers who have income over £50,000 in a tax year where either they or their partner receive Child Benefit.

 

Dividends and interest

 

The rules for taxing interest and dividend income significantly changed with effect from 6 April 2016. This factsheet considers the new tax rates and the introduction of the Savings and Dividend Allowances.

 
Individual Savings Accounts 

ISAs are tax-exempt savings accounts available to individuals.

 
Non-domiciled individuals 

An introduction to the taxation in the UK of income arising outside the UK for non UK domiciled individuals.

 
Statutory Residence Test 

The Statutory Residence Test provides, through a series of tests, a definitive process to determine the UK residence status of any individual. That status applies for income tax, capital gains tax and inheritance tax purposes.

 
Seed Enterprise Investment Scheme 

This is an area that usually appeals to start up companies, and those that invest within them. We look at why this is the case and what to consider.

 
Property investment - tax aspects 

Investment in property continues to be a popular form of investment. On the basis that the investment appears to make commercial sense what tax factors should you take into account?

 

 

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